How to Start a Home Business in Ontario

Draft a business plan as a personal reference and for external review.

Starting your own small business is a great first step in realizing the dream of becoming financially self-sufficient. However, not everyone has the money or desire to start with an external office space. Fortunately, you can set up a home office from which you can run your new Ontario small business. Plan extensively and complete the appropriate Ontario business registration forms to begin your journey.

Things You'll Need

• Ontario new business registration forms (optional)

Instructions

1. Draft a business plan to display your understanding of the industry in which your new home business will operate. Talk to seasoned Ontario home business owners if possible. Your business plan will help you organize and present your company's expected trajectory. The business plan may be required as you apply for funding. Visit the Small Business Administration website for tips on writing an effective business plan (see Resource list).

2. Determine how much space in your home will be set aside for your business. This must be an area in which you actually perform the function of your small business. Contact your local Ontario Chamber of Commerce to ask about the zoning laws in your area that pertain to home-based businesses (see Resource list).

3. Give your business a name. Check the Ontario Services for Businesses website to see if your desired business name is available (see Resource list).

4. Determine the structure of your new home business. Decide whether your business will be a corporation, sole proprietorship or partnership. Complete the appropriate registration form, which you can acquire or submit online from the Ontario Business Services website (see Resource list).

5. Pursue business loans and grants if you do not have enough start-up money. Consult your local Ontario Chamber of Commerce to discuss readily available grant and loan opportunities. Bring your business plan to any discussion as it may serve as a reference for yourself and a necessary point of review for potential investors, lenders or benefactors.

References

• Canada One: Starting a Business in Canada
• Ontario: Starting a Business

Resources

• Small Business Administration: Write a Business Plan
• Ontario Chamber of Commerce
• Ontario Business Name Search, Registration and Renewal